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Hunting Resources in Peru

By

Bob Davis

Updated Dec. 20, 2007 11:59 p.m. ET

A Hunt Oil Co.-led gas project could start Peru's long-overdue exploitation of its natural resources, and boost its battered economy. But environmentalists and indigenous groups have inquired: At what cost? (See related article.)

When oil was discovered in the northwest of Peru in the 1970s, the country expected more to be found and applied for membership in the Organization of the Petroleum Exporting Countries.